2019-05-10T08:40:00-05:00 2018-06-30 061009205 BLUM SHAPIRO & COMPANY PC ONE INTERNATIONAL PLACE 16TH FLOOR BOSTON MA 02128 990 2017-07-01 060646687 KENT SCHOOL KENT 8609276046 PO BOX 2006 KENT CT 06757 JEFFREY D CATALDO ASSISTANT TREASURER & CFO 8609276046 2019-05-10 1 LAURA J KENNEY P00202198 6177170831 2019-05-10 64.251.63.131 2019-05-10 08:19:52 ED P B49528270D5C596423F272EFB472E66EFBF6AFC8 212D4AA7D86991E97AAA9C7923B382683810470F 2017 2019-02-21 02:37:17Z JEFFREY D CATALDO PO BOX 2006 KENT CT 06757 55510781 0 X WWW.KENT-SCHOOL.EDU X 1906 CT NON-PROFIT, INDEPENDENT, PREPARATORY SCHOOL; EDUCATING APP. 520 BOARDING AND 50 DAY STUDENTS. 29 28 282 50 -110496 -157598 7589153 9856381 36048156 37832280 3013692 5180608 67466 92578 46718467 52961847 7846179 8349547 0 0 18080274 18676999 0 0 1895996 14930606 15547215 40857059 42573761 5861408 10388086 174337394 188586255 53939280 52633997 120398114 135952258 ESTABLISH AND MAINTAIN A SCHOOL WHICH SHALL PROVIDE FOR BOYS AND GIRLS OF ABILITY AND CHARACTER AN ACADEMIC COURSE OF INSTRUCTION. SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED. 0 0 35319587 8349547 37796755 INDEPENDENT, CO-EDUCATIONAL PREPARATORY SCHOOL; EDUCATING BOTH BOARDING AND DAY STUDENTS. SIMPLICITY OF LIFE, SELF-RELIANCE AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED IN BOTH BOY AND GIRL STUDENTS. 35319587 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 0 0 0 1 84 0 1 282 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 29 28 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JEFFREY D CATALDO ASSISTANT TREASURER BUSINESS MANAGER & CFO 8609276046 PO BOX 2006 KENT CT 067570640 ROBERT S ANDERSON TREASURER & TRUSTEE 2.00 X X 0 0 0 ANDREW A BOGLE TRUSTEE 2.00 X 0 0 0 FREDERIC A BOURKE III TRUSTEE 2.00 X 0 0 0 JOHN HARVEY TRUSTEE 2.00 X 0 0 0 SIR RICHARD B DEARLOVE TRUSTEE 2.00 X 0 0 0 ALICE C FRELINGHUYSEN TRUSTEE 2.00 X 0 0 0 PETER W GETSINGER TRUSTEE 2.00 X 0 0 0 ROBERT F HOERLE TRUSTEE 2.00 X 0 0 0 HENRIK VANDERLIP TRUSTEE 2.00 X 0 0 0 HELEN M PARDOE TRUSTEE 2.00 X 0 0 0 LORD JONATHAN ROTHERMERE TRUSTEE 2.00 X 0 0 0 LYNN DOE SHIPWAY VICE PRESIDENT AND TRUSTEE 2.00 X X 0 0 0 BRUCE N WHITMAN TRUSTEE 2.00 X 0 0 0 KIMBERLY BRAINARD NAYLOR TRUSTEE 2.00 X 0 0 0 RENE A LACERTE TRUSTEE 2.00 X 0 0 0 WILLIAM W WURTS TRUSTEE 2.00 X 0 0 0 BENJAMIN WARING PARTRIDGE IV PRESIDENT & TRUSTEE 2.00 X X 0 0 0 MAGALEN C WEBERT TRUSTEE 2.00 X 0 0 0 N ROGAN DONELLY TRUSTEE 2.00 X 0 0 0 DR ERNEST W FRANKLIN IV TRUSTEE 2.00 X 0 0 0 AMY MACARTNEY FREIDENRICH TRUSTEE 2.00 X 0 0 0 JAMES A LAWRENCE TRUSTEE 2.00 X 0 0 0 JAMES MCNULTY TRUSTEE 2.00 X 0 0 0 HAKAN N WOHLIN TRUSTEE 2.00 X 0 0 0 DONALD J HERREMA TRUSTEE 2.00 X 0 0 0 ANN DICKINSON TRUSTEE 2.00 X 0 0 0 MELISSA ENTWISTLE ARONSON TRUSTEE 2.00 X 0 0 0 JESSE B KIMBALL TRUSTEE 2.00 X 0 0 0 JOHN I WILLIAMS JR TRUSTEE 2.00 X 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 60.00 X 417056 0 154021 JEFFREY D CATALDO ASST. TREASURER & CFO 50.00 X 270270 0 108797 KATHLEEN NADIRE ASST. SECRETARY & DIR OF DEV. 50.00 X 148822 0 34534 ADAM FISCHER DIRECTOR OF PARENTS FUND 50.00 X 132844 0 32862 CATHERINE MAZZA DEAN OF STUDENTS 50.00 X 135092 0 59029 TODD MARBLE DIRECTOR OF PLANNED GIVING 50.00 X 118493 0 39036 DIANA YAMMIN DIRECTOR OF STUDIES 50.00 X 114609 0 18573 CHRISTOPHER COWELL CONTROLLER 50.00 X 118735 0 31270 1455921 0 478122 14 0 1 0 US FOODSERVICE PO BOX 642554 PITTSBURGH PA 15264 FOOD DISTRIBUTOR 679519 ABM JANITORIAL SERVICES PO BOX 1534 NEW YORK NY 10008 CLEANING SERVICE 615053 ART & SCIENCE GROUP LLC 300 E LOMBARD ST SUITE 610 BALTIMORE MD 21202 CONSULTING SERVICES 279731 APEX TECHNOLOGY GROUP 2158 PLAINFIELD PIKE CRANSTON RI 02921 TECHNOLOGY SUPPORT SERVICES 226785 WESTBORO TENNIS 35 CHAUNCY ST WESTBOROUGH MA 01581 TENNIS COURT DEVELOPMENT SERVICES 210830 18 9856381 2593196 9856381 TUITION & RELATED SERV. 611710 37179490 37179490 OTHER PROGRAM RELATED FEES 611710 527346 527346 SUMMER RENTAL INCOME 531190 89919 89919 MEMBERSHIP DUES 713940 35525 35525 37832280 1698391 -178358 1876749 5972920 2490703 3482217 3482217 32337 3449880 150809 58231 92578 92578 52961847 37796755 -110496 5419207 8349547 8349547 1082718 217078 594528 271112 147450 147450 11880536 10043273 1176859 660404 1432730 1239980 136633 56117 3250153 2858862 252235 139056 883412 711009 112201 60202 332374 332374 75769 75769 481981 481981 326900 272260 54640 38707 38707 1303926 907502 218651 177773 160143 71693 13082 75368 2863239 2863239 484666 390644 75632 18390 47530 47530 811769 811769 3234220 3040167 161711 32342 329288 329288 EQUIP. RENTAL & MAINT. 1635052 1507017 128035 FOOD 647751 647751 CATALOGUE 4981 4981 2768919 1235365 1175852 357702 42573761 35319587 5358178 1895996 19429115 19620258 4854457 4685266 940556 428912 146175 171594 500415 927901 124810889 65076000 59713794 59734889 67018388 78052702 21734494 24964733 174337394 188586255 2306132 2371310 20104432 21092706 28538200 27107098 2990516 2062883 53939280 52633997 X 51084535 55122874 12724928 15951171 56588651 64878213 120398114 135952258 174337394 188586255 X 10388086 4178513 987545 X 0 1 X 1 0 X 2550861 6568663 3606371 7589153 9856381 30171429 2550861 6568663 3606371 7589153 9856381 30171429 5276818 24894611 1020738 1322229 1131283 1461568 1698391 6634209 367989 397150 414903 143699 150809 1474550 38280188 172359807 0.65030 0.68510 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALE OF INVENTORY - 2013 AMOUNT: $ 367,989. 2014 AMOUNT: $ 397,150. 2015 AMOUNT: $ 414,903. 2016 AMOUNT: $ 143,699. 2017 AMOUNT: $ 150,809. 76832377 7585549 7759413 365268 2221732 89590339 65436705 5996522 7889150 175465 2314535 76832377 67427989 2363278 -1170840 806601 2377121 65436705 67039307 3822485 271431 649156 3056078 67427989 59788594 1778186 9657527 504367 3680633 67039307 0.17100 0.67940 0.14960 0 0 705348 705348 100551482 46652741 53898741 13364839 11529034 1835805 10189220 6894225 3294995 59734889 ALTERNATIVE INVESTMENTS 19523161 F REAL ESTATE 4350000 F SPLIT INTEREST AGREEMENTS 1091572 F 24964733 ACCRUED PENSION EXPENSE 1511492 POOLED INCOME FUND LIABILITY 179783 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 371608 2062883 47111173 4178513 58230 4236743 42874430 477470 9609947 10087417 52961847 31557029 -929315 -929315 32486344 477470 9609947 10087417 42573761 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO SUPPORT THE SCHOOL'S EDUCATIONAL MISSION, INCLUDING SUPPORT OF SCHOLARSHIPS, STUDENT SERVICES, FACULTY, ACADEMIC AND EXTRACURRICULAR PROGRAMS, FACILITIES, AND GENERAL ADMINISTRATION OF THE SCHOOL. THE SCHOOL'S INVESTMENT POLICY HAS THE OBJECTIVE OF PROVIDING A PREDICTABLE STREAM OF FUNDING TO SCHOOL PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN PURCHASING POWER OF THE ENDOWMENT ASSETS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD 58,231. ROUNDING -1. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 9,609,947. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD 58,231. CHANGE IN PENSION LIABILITY -987,545. ROUNDING -1. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 9,609,947. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A NOTICE OF OUR NONDISCRIMINATORY POLICY AS TO STUDENTS WAS PUBLISHED IN THE HARTFORD COURANT EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM ADMISSIONS 51224 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM ADMISSIONS 2128 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM ADMISSIONS 61571 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM ADMISSIONS 2764 NORTH AMERICA (CANADA/MEXICO) 0 0 PROGRAM ADMISSIONS 2349 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 5466337 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 9700 0 0 0 0 0 0 5596073 0 5596073 0 0 1 0 1 1 1 STUDENT FINANCIAL AID 234 8349547 WAIVE TUITION, FEES, AND OTHER CHARGES FOR THOSE STUDENTS WHO QUALIFY FOR AID. PART I, LINE 2: FINANCIAL AID IS AVAILABLE FOR QUALIFIED STUDENTS ON THE BASIS OF NEED DETERMINED BY THE SCHOOL'S GUIDELINES WHICH PROVIDE A FINANCIAL AID NEED ANALYSIS BASED ON CONFIDENTIAL INFORMATION PROVIDED BY FAMILIES. THE SCHOLARSHIPS ARE AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. ALL SCHOLARSHIPS ARE MADE DIRECTLY AS CREDITS AGAINST STUDENT ACCOUNTS AND NO CASH REFUNDS ARE ISSUED FOR ANY PURPOSE. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 415506 0 0 0 1550 0 105869 0 48152 0 571077 0 0 0 JEFFREY D CATALDO ASST. TREASURER & CFO 266170 0 0 0 4100 0 29315 0 79482 0 379067 0 0 0 KATHLEEN NADIRE ASST. SECRETARY & DIR OF DEV. 148822 0 0 0 0 0 16176 0 18358 0 183356 0 0 0 ADAM FISCHER DIRECTOR OF PARENTS FUND 125208 0 0 0 7636 0 14940 0 17922 0 165706 0 0 0 CATHERINE MAZZA DEAN OF STUDENTS 135092 0 0 0 0 0 40420 0 18609 0 194121 0 0 0 TODD MARBLE DIRECTOR OF PLANNED GIVING 118493 0 0 0 0 0 13585 0 25451 0 157529 0 0 0 CHRISTOPHER COWELL CONTROLLER 118735 0 0 0 0 0 14165 0 17105 0 150005 0 0 0 PART I, LINE 1A BUSINESS CLASS TRAVEL IS PROVIDED FOR THE HEADMASTER ON CERTAIN EUROPEAN TRIPS. CERTAIN OFFICERS AND OTHER EMPLOYEES, INCLUDING THE HEADMASTER, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. A CLEANING SERVICE IS PROVIDED FOR THE NONRESIDENT AREAS OF THE HEADMASTER'S RESIDENCE USED FOR ENTERTAINING. THESE ARE ALL TREATED AS NONTAXABLE BENEFITS. PART I, LINE 4B THE SCHOOL PROVIDES THE HEADMASTER WITH A NONQUALIFIED DEFERRED COMPENSATION PLAN. THE PLAN HAS A SUBSTANTIAL RISK OF FORFEITURE. A CHEFA 060806186 2017-05-16 18800000 REFUND EXISTING DEBT & ISSUANCE OF NEW DEBT FOR BUILDING AND EQUIPMENT. 0 0 0 B CHEFA 060806186 20774YTY3 2014-11-13 12765386 REFUND EXISTING DEBT 0 0 0 A 18800000 18800000 2017 1 0 1 1 B 4790386 12765386 255243 12510143 2004 1 0 1 1 A 0 0 0 0 0.01000 0.01000 0 0 1 B 0 0 0 0 0.01000 0.01000 0 0 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 A 1 B 1 PART II, LINE 11 - OTHER SPENT PROCEEDS: OTHER SPENT PROCEEDS WERE USED TO REFUND A PRIOR ISSUE. BEN NADIRE SPOUSE OF OFFICER 147450 COMPENSATION 0 BENJAMIN WARING PARTRIDGE IV PRESIDENT & TRUSTEE 191000 RENTAL PAYMENTS 0 SCHEDULE L, PART IV: IN MARCH OF 2013 THE SCHOOL ENTERED INTO A 60 MONTH LEASE FOR A BUILDING AND SURROUNDING PROPERTY WITH A SINGLE MEMBER LLC OWNED BY BENJAMIN WARING PARTRIDGE IV. THE LEASE ENDED IN APRIL 2018 AT WHICH TIME THE BUILDING WAS DONATED TO THE SCHOOL.EMPLOYMENT OF INTERESTED PERSONS IS REVIEWED AND APPROVED AS APPROPRIATE BASED ON THE INDIVIDUAL'S ABILITY TO PERFORM THE JOB. X 43 543196 FMV X 1 2050000 APPRAISED VALUE 0 1 0 PART I, LINE 32B: SCHEDULE M, PART I, LINE B: THE NUMBER OF CONTRIBUTIONS LISTED (43) REPRESENTS THE NUMBER OF DONATIONS OF PUBLICLY-TRADED STOCK. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION CONSIST OF THE HEADMASTER AND THE CURRENT MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION VOTE ON THE TRUSTEE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON AND APPROVE DECISIONS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED WITH THE CHAIR OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT CHAIR HAS RESPONSIBILITY FOR ENSURING BOTH ACCURATE AND COMPLETE FINANCIAL AND TAX DISCLOSURE. ONCE FORM 990 IS APPROVED BY THE AUDIT CHAIR, FORM 990, EXCLUDING THE SCHEDULE B, IS PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SURVEYS THE FULL BOARD OF TRUSTEES TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE PROCESS IS REVIEWED BY BOTH THE HEADMASTER'S OFFICE AND THE BUSINESS MANAGER'S OFFICE TO CONFIRM NO CONFLICT OF INTEREST OR TO REVIEW THE POSSIBLE CONFLICT AND RESOLVE AS APPROPRIATE. ALL CONFLICTS MUST BE VOTED ON AND APPROVED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEADMASTER IS DETERMINED BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE WILL CONSIDER THE SKILL SET OF THE HEADMASTER, THE EXPERIENCE LEVEL OF THE HEADMASTER AND WILL BENCHMARK CURRENT COMPENSATION AND PROPOSED COMPENSATION AGAINST OTHER HEADS OF SCHOOL IN OUR PEER GROUP. FURTHER, THE COMMITTEE, IF IT DEEMS APPROPRIATE, WILL LOOK TO THE ADVICE OF A THIRD PARTY CONSULTANT TO VALIDATE COMPENSATION. THE COMMITTEE WILL THEN MAKE A RECOMMENDATION AS TO THE COMPENSATION WHICH WILL BE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE BUSINESS MANAGER AND THE HEADMASTER WILL REVIEW COMPENSATION IN CONJUNCTION WITH JOB RESPONSIBILITY, SKILL SET AND EXPERIENCE. THE JOB WILL THEN BE BENCHMARKED AGAINST OTHER POSITIONS AT OTHER SCHOOLS WITHIN OUR PEER GROUP. THE PROPOSED COMPENSATION WILL THEN BE DISCUSSED AS NECESSARY WITH MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. IN THE RECENT PAST, A THIRD PARTY CONSULTANT HAS NOT BEEN USED TO SET THE COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S BY LAWS, CERTIFICATE OF INCORPORATION, AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND ALL TAX RELATED DOCUMENTATION WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PENSION LIABILITY 987,545. POOLED INCOME FUND CHARITABLE TRUST CT T 1 CHARITABLE REMAINDER TRUST CHARITABLE TRUST CT T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0